May 31, 2023
GOD BLESS PAUL O'NEILL:
Could $3,200 'Baby Bonds' Help End Poverty in America? (Brenda León, May 12, 2023, WSJ)
Make the deposits much higher and continue them annually to age 18, but put them in index funds. Reparations should go into the same accounts.A new investment program being tested in some states makes the case: what if the poorest children started life with some money in the bank.That is the premise of a program catching on among Democratic leaders around the country. So-called baby bonds have been discussed in at least eight states and lawmakers have approved programs in Washington, D.C., Connecticut and California.The idea is for the government to deposit a few thousand dollars into a trust account for each infant born to parents below a designated income level. As adults, the beneficiaries can use the money--plus investment returns--to help pay for education or a home.
Posted by Orrin Judd at May 31, 2023 12:00 AM